Treasury budget data due out at 2 p.m. EST today is the heaviest item on Wednesday's U.S. economic calendar, leaving China's import news front and center for investors ahead of the open.

China reported imports and exports surged in January, exports up 11% and imports 10% higher, year-over-year. Both were more than three times estimates. The data came in stark contrast to recently weakening manufacturing and economic output numbers that had raised concerns China's economy was faltering.

U.S. traded shares of Beijing-based Sungy Mobile (GOMO) surged 6% ahead of the open. A Credit Suisse report Tuesday named the mobile platform developer as a potential acquisition target. The three-month-old stock has been piecing together an IPO base, with 10-week support and a possible 25.77 buy point.

The dollar gained vs. the euro, slightly lower against the yen. Oil traded a fraction higher, with the U.S. West Texas Intermediate benchmark steady above $100 per barrel and Brent crude hovering near $109. Natural gas inched above $4.95 per million British thermal units after making a 5% leap Tuesday. Gold wobbled up and down, around $1,287 an ounce, up about 2% so far this week.

Stocks futures hung narrowly in the red ahead of Wednesday's open, with quarterly reports and January trade data from China among the morning's top stories.

Treasury budget data due out at 2 p.m. EST today is the heaviest item on Wednesday's U.S. economic calendar, leaving China's import news front and center for investors ahead of the open.

China reported imports and exports surged in January, exports up 11% and imports 10% higher, year-over-year. Both were more than three times estimates. The data came in stark contrast to recently weakening manufacturing and economic output numbers that had raised concerns China's economy was faltering.

U.S. traded shares of Beijing-based Sungy Mobile (GOMO) surged 6% ahead of the open. A Credit Suisse report Tuesday named the mobile platform developer as a potential acquisition target. The three-month-old stock has been piecing together an IPO base, with 10-week support and a possible 25.77 buy point.

The dollar gained vs. the euro, slightly lower against the yen. Oil traded a fraction higher, with the U.S. West Texas Intermediate benchmark steady above $100 per barrel and Brent crude hovering near $109. Natural gas inched above $4.95 per million British thermal units after making a 5% leap Tuesday. Gold wobbled up and down, around $1,287 an ounce, up about 2% so far this week.

See Also

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03/02/2015 04:22 PM ET

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Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms. All times are Eastern United States. *Reflects real-time index prices.